Minotaur Exploration Releases Maiden JORC Resource Estimate for Saints Nickel Deposit

The Saints deposit, 65 km NNW of Kalgoorlie, is an Archaean Kambalda-style, komatiite-hosted, massive nickel sulphide deposit. Anomalous nickel was first highlighted by Asarco in the 1970’s by shallow RAB drilling however it wasn’t until 1996-1997 that the first RC and diamond drill holes, drilled by WMC, penetrated what is now part of the Saints nickel resource.

Various companies drill tested the deposit through to 2011 and prior to Minotaur acquiring ownership in 2013. Historic drilling allowed mineralisation to be defined to around 480 metres below surface. The historical data was compiled and reviewed by Minotaur and further reviewed and then modelled by RPM Holdings Limited (RPM, formerly RungePincockMinarco Limited) in March -April 2017, providing Competent Person preparation of the maiden Mineral Resource estimate.

Highlights

• Maiden JORC 2012 Mineral Resource estimated for Saints nickel deposit
• Total Inferred Mineral Resource of 1.05 million tonnes at 2.0% Ni for 21,000t of contained nickel above 1.0% Ni cut-off
• Mineralisation remains open at depth
• Saints deposit available for sale, being a non-core asset

The maiden Mineral Resource estimate for the Saints nickel deposit was prepared and reported by RPM according to JORC 2012 guidelines. The total Resource, a compilation of the Saint Andrews, Saint Patricks and Western Contact deposits, all classified as Inferred and reported above 1.0% Ni cut-off, contains 1.05Mt @ 2.0% Ni for 21,000 tonnes of nickel, 0.2% Cu for 1,600 tonnes of copper and 0.06% Co for 600 tonnes of cobalt.

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